Rafa Benitez’s Newcastle future has been thrown into fresh doubt after the dramatic collapse of £300m takeover talks.

Furious Mike Ashley hit out at Amanda Staveley - accusing the Yorkshire financier’s PCP Capital Partners of wasting his time after the Sports Direct billionaire was forced to go back to square one in his bid to sell the Tynesiders.

The stunning development has been met with dismay by Benitez, who had welcomed Staveley’s attempts to end Ashley’s turbulent decade in charge at St James’ Park - but who now faces a prolonged spell working under Toon’s hugely unpopular owner.

The Spaniard has endured a strained relationship with Ashley, who has failed to provide backing in the last two transfer windows, and is stalling on releasing desperately needed funds this month to boost Newcastle’s fight to avoid an immediate return to the Championship.

The proposed takeover is off (Image: PA)

Benitez's future at Newcastle is now in doubt (Image: Action Images via Reuters)

Staveley's takeover has been described as a "waste of time" (Image: REX/Shutterstock)

Benitez has grown increasingly disillusioned at being unable to add to a threadbare squad in the battle against relegation, leaving supporters increasingly worried that the former Liverpool and Real Madrid boss could walk away from a post he took almost two years ago. During the last two windows, Benitez has spent just £19m net on players.

Ashley, who recently returned from an extended holiday in Miami, decided to cut his losses and call an abrupt end negotiations after two months of talks with Staveley’s Middle-East backed consortium.

A source close to the Newcastle chief last said night: “It’s only right to let the fans know that there is no deal on the table, or even under discussion with Amanda Staveley and PCP.

“Attempts to reach a deal have proved to be exhaustive, frustrating and a complete waste of time.”

Ashley has grown tired of the negotiations (Image: Clive Rose)

Newcastle are at risk of being sucked into a relegation dogfight this season (Image: REUTERS)

PCP Partners were last night unavailable for comment.

Ashley held talks with Staveley last month at an Indian restaurant in London, but failed to curry favour with the Toon mogul after news of the meeting was leaked to the media.

Staveley was said to harbour concerns about the threat of Newcastle being relegated from the Premier League, and wanted clauses included to allow for a reduced price should the team go down.

A second Dubai-based group are monitoring the situation, but sources suggest they also have worries over the club’s top flight future and will hold off from making concrete their interest until Newcastle’s Premier League future is certain.

Ashley put the club on the market in October, claiming he wanted to push through a sale by Christmas in his attempts to sell the controlling interest he paid £134m for in 2007.

The 53-year-old will now wait until the new TV deal is thrashed out next month, when top flight clubs can expect a major increase on the £5.14bn Sky Sports and BT Sport already pay, before deciding his next move.

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